My husband passed away and only his name was on the mortgage but both our names are on the deed? What happens now? What are my rights and obligations?
3 Answers from Attorneys
If the mortgage is not paid, the lender has the right to foreclose. Since you did not sign the note, you have no personal liability. You may also need to probate his estate.
If the deed lists you and your husband as "husband and wife," or "his wife," or "her husband," then you become the sole owner.
Assuming what you said is correct, and you never signed any papers for the lender, the lender may have defective title to foreclose on.
But, if you did sign something with the lender, then they could foreclose out the property if you don't make payments.
Without more information I could not venture further.
I would have to review the deed to the to see the wording of your name and his name to determine whether you own the property by a right of survivorship. In addition, the mortgage document that reflects the banks interest in money loaned on the property would have to be examined to see your exact rights and obligations. It's important for your future financial and estate planning to find out the answers to these questions so that you could redraft your own estate plan knowing the legal situation this property is in presently. I'm sorry to for your loss and express my condolences to you. If you would like me to review the situation please feel free to call me or send me an e-mail as much of my practice is done virtually now.
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